Benefiting from property sector digitalization Increasing expenditures to support strategic expansion Breakthrough in collaboration deals Cautious on 2H21E momentum Results of volume-based procurement to come out inmid-September Structural improvements are still on track Upside from mall upgrade and office commercial operation 1H21 results beat; accelerating BD pace Satisfactory results in 2Q; Negatives priced in;U/G to BUY Building world-leading innovation platform